Carlyle Group Q1 Profit, Revenue Increase

(RTTNews) - The Carlyle Group L.P. (CG) Thursday reported net income of $130 million or $0.35 per share for the first quarter, significantly higher than $65.6 million or $0.18 per share in the same quarter a year ago, primarily helped by growth in revenue.

Distributable earnings rose to $413.4 million or $1.14 per share from $365 million or $1.01 per share last year.

On average, 13 analysts expected earnings of $0.95 per share for the quarter. Analysts' estimates typically exclude special items.

Revenue for the quarter grew to $973.1 million from $688.4 million in the previous year. The consensus estimate was for $976 million.

Asset under management (AUM) increased 6% year-over-year to $453 billion.

The company has declared a quarterly dividend of $0.35 per share, to be paid on May 27, to shareholders of record on May 19.